Old Mutual’s high court victory against Peter Moyo paves the way for the insurer to finally appoint a new leader, after an eight-month battle with the axed CEO that caused reputational damage and shaved billions off its market capitalisation.  

On Tuesday, a full bench of the Johannesburg high court upheld Old Mutual’s appeal, finding that the insurer had lawfully dismissed Moyo. The court overturned the first high court judgment that ruled Moyo was illegally fired and which had temporarily reinstated him. That reinstatement was overturned.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.

Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now